Pakistan and Brazil have agreed to further increase current trade beyond US$ 1.6 billion by exploring more areas of cooperation, especially in the value-added agriculture sector and also in Textile and Garments.
Brazilian Ambassador Olyntho Vieira called on Dr. Gohar Ijaz, Caretaker Minister for Commerce, Industries & Production in his office.
Both sides realized that the current trade volume of US$ 1.6 billion could be further increased by exploring more areas of cooperation, especially in the value-added agriculture sector and also in Textile and Garments.
Federal Minister Dr. Gohar Ijaz informed the Ambassador of the formation of the Special Investment Facilitation Council (SIFC), and its proactive efforts to attract Foreign Direct Investment in key sectors such as Agriculture, Mining, Chemicals, and Information Technology.
The Commerce Minister extended an invitation to Brazil to consider investing in Pakistan’s agricultural sector for farming and also offered to have Joint Ventures with Pakistani companies. Minister Gohar appreciated Brazil’s global prominence in agriculture and expressed its strong desire to collaborate closely with Brazil in this area.
The Minister also extended an invitation to Brazil to explore investment opportunities in Pakistan’s Petrochemical sector, underlining the potential for mutually beneficial partnerships in this sector. He informed the Ambassador that Pakistani businessmen are willing to explore and have meetings with their Brazilian counterparts in Brazil.
Ambassador Vieira expressed keen interest in improving business-to-business relations between the two countries and offered his full support for Pakistan’s initiatives among the Brazilian business community aiming to foster better trade ties.
Ambassador Vieira extended an invitation to Minister Dr. Gohar to lead a business delegation to Brazil and to engage with top Businesspersons and high government officials in Brazil for collaboration and attracting investment, especially in Agriculture and Petrochemicals sectors.